SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 24, 1997
Applied Computer Technology, Inc.
(Exact name of registrant as specified in its charter)
Colorado 0-26826 84-1164570
(State or other jurisdiction (Commission (I.R.S. Employer)
of incorporation) File Number) Identification No.)
2573 Midpoint Drive, Fort Collins, Colorado 80525
(Address of Principal executive offices) (Zip code)
Registrant's telephone number, including area code (970) 490-1849
N/A
Former Name or Former Address, If Changed Since Last Report
Page 1 of 3 Pages
Exhibit Index is on Page 2.
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ITEM 9. SALE OF EQUITY SECURITIES PURSUANT TO REGULATION S
The following pro forma balance sheet of the Company as of October 31,
1997 amends the condensed balance sheet of the Company which was included in an
8-K report filed with the Securities and Exchange Commission on November 26,
1997.
<TABLE>
<CAPTION>
ASSETS
October 31, October 31, 1997
1997 Adjustments(1) (as adjusted)
<S> <C> <C> <C>
CURRENT ASSETS:
Cash and equivalents $ 12,000 $1,370,000 $1,382,000
Receivables:
Trade, net of
allowance of $30,000 3,590,000 3,590,000
Income taxes -- --
Loans to Officers 92,000 92,000
Other 95,000 95,000
Inventories 2,910,000 2,910,000
Prepaid and Other 502,000 502,000
----------- -----------
Total Current Assets 7,201,000 7,201,000
NET PROPERTY AND EQUIPMENT, at cost 1,990,000 1,990,000
NET INTANGIBLE ASSETS, at cost 129,000 129,000
OTHER ASSETS 279,000 279,000
----------- -----------
TOTAL ASSETS $ 9,599,000 $10,969,000
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt $46,000 $46,000
Notes payable 2,407,000 2,407,000
Accounts payable 5,259,000 5,259,000
Accrued liabilities 247,000 247,000
----------- -----------
Total Current Liabilities 7,959,000 7,959,000
LONG-TERM LIABILITIES 631,000 631,000
STOCKHOLDERS' EQUITY
Convertible Preferred stock - no par value;
5,000,000 shares authorized; convertible
into 1,150,000 shares of common stock 900,000 $1,370,000 2,270,000
Common stock, no par value; 25,000,000
shares authorized; 3,094,000 shares
issued and outstanding 4,202,000 4,202,000
Accumulated deficit (4,093,000) (4,093,000)
----------- -----------
Total stockholders' equity 1,009,000 2,379,000
--------- ---------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 9,599,000 $10,969,000
=========== ===========
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(1) Reflects sale of Series B Preferred Stock and Warrants for $1,500,000, less
commissions and other offering expenses of $130,000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DATE: December 2, 1997 APPLIED COMPUTER TECHNOLOGY, INC.
By: /s/ Wiley E. Prentice, Jr.
Wiley E. Prentice, Jr.
President
